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Total may Bid for Nassirya Oil Refinery

By John Lee.

France’s Total is said to be interested in bidding to build the greenfield 150,000-bpd Nassirya oil refinery.

The Director General of the Dhi Qar Oil Company (DQOC), Ali Warid Hammood, told Reuters at the CWC Iraq Petroleum Conference in Berlin that bids are still open for the project, and that international oil companies interested in the project would be bidding as refiners only.

The project was initially offered as part of the Nassiriya Integrated Project (NIP), tying it to oilfield development. In January 2018, Iraq dropped the NIP, saying it will rely on a newly formed state oil company to develop the Nassiriya oil field, and leaving only the nearby refinery project for investors.

Hammood confirmed to Reuters that DQOC will develop the field by itself.

It is currently producing 80,000-100,000 barrels of oil per day, with plans to double capacity within three years.

(Source: Reuters)

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Saudi’s SABIC “in talks” to join Nebras Petchem Project

By John Lee.

Saudi Basic Industries Corp (SABIC) is in talks to join Iraq’s Nebras petrochemical project, according to a report from Reuters.

An advisor to Prime Minister Haider al-Abadi told the news agency at the CWC Iraq Petroleum Conference in Berlin that talks are at advanced stage at ministerial level.

He said SABIC would enter as a fourth partner in the project, along with Shell and the Iraqi oil and agriculture ministries.

(Source: Reuters)

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BOC “Preparing to Tender” for Water Injection Project

By John Lee.

The Basra Oil Company (BOC) is reportedly preparing to tender for a water injection project in Iraq if talks with ExxonMobil and PetroChina fail.

Reuters quotes the head of the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD), Abdul Mahdi al-Ameedi, as telling reporters at the CWC Iraq Petroleum Conference in Berlin, “we cannot wait for a longer time unless Exxon Mobil accepts the deal for the benefit of the two parties.”

He added that the delay in negotiations was partly related to initial production rates from the Nahr Bin Umar and Artawi oilfields.

(Source: Reuters )

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Oil Exports Fall Slightly in February

By John Lee.

Iraq’s Ministry of Oil has announced preliminary oil exports for February of 95,940,404 barrels, giving an average for the month of 3.426 million barrels per day (bpd), a slight decrease from the 3.490 bpd exported in January.

The exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan.

Revenues for the month were  $5.769 billion at an average price of $60.137 per barrel.

January export figures can be found here.

(Source: Ministry of Oil)

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Iraq signs Memorandum of Cooperation with Kuwaiti Company

By John Lee.

Iraq’s Oil Ministry has signed a a memorandum of cooperation with the Kuwait-based company Al-Arfaj, with a view to capturing and using associated gas from Iraq’s oil fields.

Oil Minister Jabar Ali al-Luaibi [Allibi, Luiebi] ending gas flaring and using the gas for petrochemical production was a priority for the Ministry.

According to a statement from the Ministry:

“The memorandum included the formation of a coordination committee between the two sides to exchange the information about the projects in the zone and the world. The memorandum included also the desire of the company to participate in the flare gas investment project and the methanol production, as well as to invite the ministry of oil to contribute in the investment of the project of building an oil refinery in India with a petrochemicals complex.”

(Source: Ministry of Oil)

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Oil Ministry Finalises Export Figures for January

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for January of 108,190,068 barrels, giving an average for the month of 3.490 million barrels per day (bpd), a slight decrease from the 3.535 bpd exported in December.

The exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan.

Revenues for the month were $6.772 billion at an average price of $62.596 per barrel.

The oil was shipped by 31 international companies from the ports of Basra, Khor Al- Omaia and the single-point moorings (SPM’s) on the Gulf.

December export figures can be found here.

(Source: Ministry of Oil)

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Oil Ministry Finalises Export Figures for January

By John Lee.

Iraq’s Ministry of Oil has announced final oil exports for January of 108,190,068 barrels, giving an average for the month of 3.490 million barrels per day (bpd), a slight decrease from the 3.535 bpd exported in December.

The exports were entirely from the southern terminals, with no exports registered from Kirkuk via Ceyhan.

Revenues for the month were $6.772 billion at an average price of $62.596 per barrel.

The oil was shipped by 31 international companies from the ports of Basra, Khor Al- Omaia and the single-point moorings (SPM’s) on the Gulf.

December export figures can be found here.

(Source: Ministry of Oil)

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New Oil Licensing Round Delayed by Elections

By John Lee.

Platts reports that the final details of Iraq’s latest oilfield licensing round will not be completed by the planned date of July, due to the upcoming elections.

Abdul Mahdy Al-Ameedi, Director General of the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD) told the CWC Iraq Petroleum Conference in Berlin:

“The timing may extend a bit especially as the whole project is connected with elections in April and May …

“Comments have been made by specialists in order to reorder contracts to include all the commitments and provisions I doubt that we will finish by July 5. It will take time but it will be done.“

The list of qualified companies can be found here.

(Source: Platts)

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New Oil Licensing Round Delayed by Elections

By John Lee.

Platts reports that the final details of Iraq’s latest oilfield licensing round will not be completed by the planned date of July, due to the upcoming elections.

Abdul Mahdy Al-Ameedi, Director General of the Oil Ministry’s Petroleum Contracts and Licensing Directorate (PCLD) told the CWC Iraq Petroleum Conference in Berlin:

“The timing may extend a bit especially as the whole project is connected with elections in April and May …

“Comments have been made by specialists in order to reorder contracts to include all the commitments and provisions I doubt that we will finish by July 5. It will take time but it will be done.“

The list of qualified companies can be found here.

(Source: Platts)

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Video: Iraq lures Investors to Boost Oil, Gas Output

From Al Jazeera. Any opinions expressed are those of the authors, and do not necessarily reflect the views of Iraq Business News.

Iraq is hoping to lure international investors to help develop its oil and gas industry.

With victory declared over fighters from Islamic State of Iraq and the Levant (ISIL, also known as ISIS), government ministers are meeting oil executives in Berlin to discuss how to exploit its vast reserves.

Al Jazeera’s Dominic Kane reports from Berlin: